Oboya signs a cooperation agreement with Gaia regarding biomaterials
Oboya Horticulture Industries AB (publ) ("Oboya") has signed an important and long-term cooperation agreement on environmentally friendly biomaterials with Gaia Biomaterials AB ("Gaia") in Helsingborg, Sweden. The agreement means that Oboya uses Gaias biomaterials for the production and development of environmentally friendly cultivation products for the cultivation industry.
Oboya has been actively involved in innovation, environmental and sustainability issues in recent years, and our goal is to encourage environmental and sustainability in the cultivation industry by offering environmentally friendly cultivation products to our customers. Oboya believes that the use of biomaterials will be important for success in the conversion to a fossil-free cultivation industry worldwide.
The cooperation agreement means that Oboya uses Gaias biomaterials in its production and that through Gaias expertise we can develop new environmentally friendly cultivation products. Gaias biomaterials are biodegradable, compostable and reduce up to 80% lower carbon dioxide emissions during combustion compared to conventional materials such as plastic and paper. The new environmentally friendly product concept includes everything from pots, packaging and trays to labels and will be launched in beginning of 2019. Oboya is aiming to grow in the environmentally friendly cultivation products segment, selling to several of Oboya's home markets in Europe and China.
"The cooperation agreement with Gaia allows us to be at the frontline of offering environmentally friendly products to our customers as well as meeting the demands that are made to achieve a sustainable production chain. It is important for us that our business affects people and the environment in as many positive ways as possible. We are taking an important step in the right direction and working for a sustainable cultivation industry ", said Robert Wu, CEO of Oboya Horticulture Industries AB.
Erik Penser Bank is Oboyas Certified Adviser at Nasdaq First North.
For any inquiry regarding this press release, kindly contact:
Robert Wu, CEO of Oboya Horticulture Industries AB (publ)
Phone: + 86 159 6983 5999